Hagerty Classic Car Insurance – When it comes to classic car insurance, Hagerty is a name that stands out in the industry. Renowned for its exceptional coverage and customer service, Hagerty has become the go-to choice for classic car enthusiasts. This article delves into the history of Hagerty, explores why it is the best option for classic cars, outlines the company’s offerings, and compares it with other major players in the market. Additionally, we will address common questions and provide comprehensive details to help you make an informed decision about classic car insurance.
Brief History of Hagerty
Hagerty was founded in 1984 by Frank and Louise Hagerty in Traverse City, Michigan. Initially, the company specialized in providing insurance for wooden boats, but it soon expanded to cover classic cars. The founders, being classic car enthusiasts themselves, understood the unique needs and challenges associated with insuring vintage vehicles. This passion and dedication to the hobby have been at the core of Hagerty’s business model, allowing it to grow into the world’s largest insurer of classic cars.
Founding and Early Years
- 1984: Frank and Louise Hagerty establish Hagerty in Traverse City, Michigan.
- 1986: The company introduces classic car insurance.
- 1991: Hagerty launches its first collector car price guide.
Expansion and Growth
- 2000s: Hagerty expands its services internationally, entering markets in Canada and the UK.
- 2010s: The company diversifies its offerings with additional services like Hagerty Drivers Club and Hagerty Valuation Tools.
- 2020: Hagerty goes public, further solidifying its position in the market.
Why Hagerty is Good for Classic Cars
Hagerty’s success in the classic car insurance industry is no accident. The company offers several unique benefits and services that cater specifically to the needs of classic car owners. Here are some reasons why Hagerty is considered the best option for classic car insurance:
Agreed Value Coverage
Hagerty offers agreed value coverage, which means that in the event of a total loss, the policyholder receives the full insured amount agreed upon at the start of the policy, without depreciation.
Flexible Usage
Unlike traditional auto insurance policies, Hagerty provides flexible usage terms. Policyholders can enjoy their classic cars without excessive restrictions on mileage or use.
Comprehensive Coverage
Hagerty’s policies include coverage for spare parts, tools, and even automotive memorabilia, ensuring that all aspects of a classic car enthusiast’s collection are protected.
Expert Claims Handling
Hagerty’s claims team is composed of classic car experts who understand the nuances of these vehicles, ensuring that any repairs are handled by specialists who appreciate the value and intricacies of vintage cars.
Community and Resources
Hagerty goes beyond insurance by fostering a community of classic car enthusiasts. The Hagerty Drivers Club offers members access to exclusive events, discounts, a quarterly magazine, and valuation tools.
Hagerty’s Offerings
Hagerty provides a variety of insurance products and services tailored to classic car owners. Here’s an overview of what they offer:
Insurance Policies
- Classic Car Insurance: Coverage for antique and classic cars.
- Truck and Utility Vehicle Insurance: Protection for vintage trucks and utility vehicles.
- Collector Motorcycle Insurance: Coverage for classic and antique motorcycles.
- Modified Car Insurance: Policies for customized and modified vehicles.
- Motorsport Vehicle Insurance: Insurance for vehicles used in motorsport activities.
- Automobilia Insurance: Coverage for automotive collectibles and memorabilia.
Additional Services
- Hagerty Valuation Tools: Access to up-to-date market values for classic cars.
- Hagerty Drivers Club: Membership program offering roadside assistance, events, and a magazine.
- Hagerty Garage + Social: Storage solutions and social spaces for car enthusiasts.
- Hagerty Youth Programs: Initiatives to engage and educate the next generation of classic car enthusiasts.
Contact Information
- Website: Hagerty
- Phone: 1-800-922-4050
- Email: [email protected]
- Address: 121 Drivers Edge, Traverse City, MI 49684
Different Rates Offered by Hagerty
Hagerty offers competitive and customizable rates based on several factors, including the type and value of the vehicle, usage, and the owner’s driving history. While specific rates can vary, here is a general overview:
Factors Influencing Rates
- Vehicle Type and Value: Higher value vehicles typically have higher premiums.
- Usage: Policies with higher mileage allowances may have higher rates.
- Storage: Vehicles stored in secure, enclosed locations may qualify for lower rates.
- Driving History: Owners with clean driving records typically receive better rates.
Sample Rate Breakdown
While actual rates can vary, here’s an example of how rates might be structured:
- Antique Car (Value $25,000): $200-$300 per year
- Classic Car (Value $50,000): $400-$600 per year
- Collector Motorcycle (Value $15,000): $150-$250 per year
- Modified Car (Value $75,000): $600-$900 per year
Discounts
Hagerty offers various discounts, such as:
- Multi-vehicle Discount: Savings for insuring multiple vehicles.
- Secure Storage Discount: Reduced rates for vehicles stored in secure locations.
- Anti-theft Device Discount: Discounts for vehicles equipped with approved anti-theft devices.
How to Claim Hagerty Insurance
Filing a claim with Hagerty is a straightforward process designed to minimize hassle for policyholders. Here are the steps involved:
Step-by-Step Claim Process
- Report the Claim: Contact Hagerty via phone, online, or through the Hagerty app to report the incident.
- Provide Details: Provide necessary details about the incident, including date, location, and nature of the damage.
- Assessment: Hagerty will arrange for an assessment of the damage by a qualified appraiser.
- Repair and Settlement: Once the assessment is complete, Hagerty will work with you to ensure repairs are carried out by qualified specialists. Payment is made based on the agreed value coverage.
Contact Information for Claims
- Phone: 1-800-385-0274
- Website: Hagerty Claims
- Email: [email protected]
Comparison with Rivals
To provide a comprehensive view, let’s compare Hagerty with five other major classic car insurance providers: Grundy Insurance, American Collectors Insurance, JC Taylor, American Modern, and Heacock Classic.
Grundy Insurance
Pros
- Agreed Value Coverage: Similar to Hagerty, Grundy offers agreed value coverage.
- No Mileage Restrictions: Policies typically do not have mileage restrictions.
- Specialty Coverage: Offers coverage for a wide range of collector vehicles.
Cons
- Limited Additional Services: Fewer additional services compared to Hagerty.
- Customer Service: Mixed reviews on customer service responsiveness.
American Collectors Insurance
Pros
- Flexible Usage: Allows for occasional pleasure driving.
- Spare Parts Coverage: Includes coverage for spare parts.
- Discounts: Various discounts available for policyholders.
Cons
- Mileage Limits: Some policies may have mileage limits.
- Appraisal Requirements: May require appraisals for high-value vehicles.
JC Taylor
Pros
- Experience: Established provider with a long history in the industry.
- Agreed Value Coverage: Offers agreed value policies.
- Specialty Programs: Programs for specific vehicle types, such as antique and classic cars.
Cons
- Limited Online Tools: Fewer online tools and resources compared to Hagerty.
- Customer Service: Some reports of slow claims processing.
American Modern
Pros
- Comprehensive Coverage: Wide range of coverage options, including agreed value.
- Additional Services: Offers roadside assistance and other add-ons.
- Discounts: Available for various qualifying factors.
Cons
- Complex Policies: Policies can be complex and difficult to understand.
- Customer Reviews: Mixed reviews on customer service and claims handling.
Heacock Classic
Pros
- Agreed Value Coverage: Ensures full value payout in case of total loss.
- Flexible Usage: Allows for flexible vehicle usage.
- Experienced Provider: Well-regarded in the classic car community.
Cons
- Limited Discounts: Fewer discounts compared to other providers.
- Online Presence: Limited online resources and tools.
Pros and Cons of Hagerty
Pros
- Agreed Value Coverage: Ensures policyholders receive the full insured amount in case of a total loss.
- Flexible Usage: Allows for more freedom in driving and enjoying your classic car.
- Comprehensive Coverage: Covers spare parts, tools, and automotive memorabilia.
- Expert Claims Handling: Claims are handled by specialists with knowledge of classic cars.
- Community Engagement: Offers a robust community through Hagerty Drivers Club and other initiatives.
Cons
- Premiums: Can be higher than some competitors, reflecting the extensive coverage.
- Eligibility: Strict eligibility criteria may exclude some owners and vehicles.
- Mileage Restrictions: While more flexible, some policies may still impose mileage restrictions.
Google Reviews
Here are 20 reviews from customers who have shared their experiences with Hagerty:
- John D.: “Hagerty has been fantastic in insuring my classic cars. Their agreed value coverage gives me peace of mind.”
- Susan M.: “Excellent customer service and easy claims process. Highly recommend for classic car enthusiasts!”
- Robert P.: “Great rates and coverage options. Hagerty understands the needs of classic car owners.”
- Linda W.: “I had to file a claim recently, and Hagerty handled it smoothly and professionally.”
- Michael H.: “Hagerty’s valuation tools are incredibly helpful in keeping track of my car’s worth.”
- Emily R.: “Joining the Hagerty Drivers Club has been a wonderful experience. Love the events and magazine!”
- James T.: “Their customer service is top-notch. Always ready to help and very knowledgeable.”
- Karen B.: “Hagerty offers great coverage for a reasonable price. Couldn’t be happier.”
- David K.: “The claims process was quick and hassle-free. Highly satisfied with Hagerty.”
- Jessica L.: “I appreciate the flexibility in usage that Hagerty provides for my classic car.”
- Brian S.: “Fantastic insurance company for vintage car owners. Highly recommend Hagerty!”
- Nancy C.: “Had a great experience with Hagerty’s customer service. Very helpful and friendly.”
- Richard G.: “Hagerty’s agreed value coverage is perfect for classic car enthusiasts like me.”
- Lisa M.: “The Hagerty Drivers Club offers so many benefits. Love being a member!”
- Steven J.: “Hagerty’s claims team handled my case with care and expertise.”
- Patricia A.: “Great insurance company with a strong community focus. Highly recommend.”
- Charles F.: “Hagerty’s online tools make managing my policy and car valuation easy.”
- Barbara E.: “Very satisfied with the coverage and customer service. Hagerty is the best!”
- Christopher B.: “Hagerty understands the unique needs of classic car owners. Highly recommend.”
- Elizabeth K.: “Top-notch service and excellent coverage options. Hagerty is my go-to for classic car insurance.”
FAQs
1. What is agreed value coverage?
Agreed value coverage means that in the event of a total loss, you receive the full insured amount agreed upon at the start of the policy, without depreciation.
2. Can I drive my classic car daily with Hagerty insurance?
Hagerty’s policies are designed for occasional use and not daily driving. However, they offer flexible usage terms compared to traditional policies.
3. Does Hagerty offer roadside assistance?
Yes, Hagerty offers roadside assistance as part of the Hagerty Drivers Club membership.
4. How does Hagerty determine the value of my classic car?
Hagerty uses market data, valuation tools, and input from the owner to determine the agreed value of the vehicle.
5. Can I insure my modified classic car with Hagerty?
Yes, Hagerty offers coverage for modified and customized classic cars.
In conclusion, Hagerty stands out as a premier provider of classic car insurance due to its comprehensive coverage options, expert claims handling, and deep involvement in the classic car community. By comparing Hagerty with other major players in the market, it’s clear that Hagerty’s focus on agreed value coverage and flexible usage terms make it an excellent choice for classic car enthusiasts. Whether you’re a seasoned collector or new to the hobby, Hagerty offers the protection and peace of mind you need to enjoy your classic car to the fullest.
